A New York appeals court has reduced the $US454 million ($695 million) bond Donald Trump was order to post in his civil fraud trial to $US175 million.
Already a subscriber?A New York appeals court has reduced the $US454 million bond Donald Trump was order to post in his civil fraud trial to $US175 million, saving the former president fromThe ruling by a panel of judges, who also granted a 10-day pause on the judgement, came on the same day that New York Attorney General Letitia James would have been allowed to start seizing Trump’s real estate and bank accounts.
Mr Trump and his businesses were found liable in January of committing “blatant” fraud by vastly inflating the value of core real estate assets such as Mar-a-Lago and 40 Wall Street in loan applications., calling it a “practical impossibility” after being refused by 30 companies that provide appeal bonds, who would not accept commercial real estate as collateral.
Trump now has 10 days to secure the new $US175 million bond, which Trump’s legal team had been hoping would be a smaller $US100 million.Mr Trump was in a New York courtroom Monday to face a hearing in a criminal caseabout a sexual encounter with him a decade earlier. The case will be the first of the criminal cases to go to trial and so far the only one scheduled to go before a jury before the November election.A New York jury in January ordered the billionaire
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